US Dollar Index Is Slightly Weaker before the Jobs Report


Nov. 9 2017, Updated 7:34 a.m. ET

US Dollar Index

Following three continuous profitable weeks, the US Dollar Index started this week on a mixed note. The US Dollar Index fell on Monday but regained strength as the week progressed. The US Dollar Index started Thursday on a mixed note and traded near opening prices in the early hours.

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Market sentiment

The US Dollar Index started this week on a weaker note amid doubts about the successful execution of proposed tax cut plans. However, the US Dollar Index regained strength amid the improved US market sentiment and weakness in the euro and pound against the dollar. The market is waiting for the Senate bill to erase doubts about the tax reform plan. The market is also waiting for the release of the jobs report at 8:30 AM EST today. At 4:50 AM EST on November 9, 2017, the US Dollar Index was trading at 94.80—a fall of 0.06%.

US Treasury yields

After pulling back last week, Treasury yields started this week on a weaker note. However, Treasury yields regained strength as the week progressed amid supporting economic data and the ten-year Treasury notes auction at a yield of 2.314%. The ten-year bond yield opened lower on Thursday and traded with weakness in the early hours.

Movement in Treasury yields

Below are the movements in Treasury yields as of 4:55 AM EST on November 9.

  • The ten-year Treasury yield was trading at 2.315—a fall of ~0.08%.
  • The 30-year Treasury yield was trading at 2.782—a fall of ~0.06%.
  • The five-year Treasury yield was trading at 2.007—a rise of ~0.23%.
  • The two-year Treasury yield was trading at 1.649—a rise of ~0.27%.

The iShares 20+ Year Treasury Bond (TLT) fell 0.22%. The ProShares UltraPro Short 20+ Year Treasury (TTT) rose 0.68% and the ProShares UltraShort 20+ Year Treasury (TBT) rose 0.5% on November 8.

In the next part of this series, we’ll discuss how commodities performed in the early hours on November 9.


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